In the News

Redrawn flood zones await coastal homeowners after Sandy
Federal, state and local officials are expected to announce revisions for flood zones in the wake of Hurricane Sandy, and that may mean more obstacles for homeowners who are seeking to rebuild. Building in a flood zone translates to increased costs and structure requirements, such as strict minimum heights. New York Post (1/13)

Americans may spend more to improve housing this year
Spending on home improvements in the U.S. is expected to increase this year, a report by Harvard University’s Joint Center for Housing Studies says. About 17% of gross domestic product during the first nine months of 2012 went toward spending on housing, and the figure could be higher this year, says Eric Belsky, managing director of the center. The Boston Globe (tiered subscription model) (1/18)

U.S. housing industry is facing changes from regulations
The final version of the Qualified Residential Mortgage rule, which will define the minimum down payment required for home loans, is likely to be released in the coming months, U.S. regulators say. That rule, along with underwriting and servicing measures released by the Consumer Financial Protection Bureau last week, have the potential to reshape home lending in the U.S. “These changes will impact business operations and the future of mortgage access for years to come,” says David Stevens, president of the Mortgage Bankers Association. Bloomberg (1/18)

Predictions on where the housing market is headed
The housing market could begin favoring sellers this year, and buyers should be prepared for a more competitive market, Kathryn Buschman Vasel writes. Among the housing trends she cites are continued low interest rates, a stricter lending process, increasing home prices, a possible increase in housing inventories and less refinancing activity. Fox Business (1/17)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s